Integrating cryptocurrency payments into business

Whitepay, a cryptocurrency payment processing company, has launched a new service for Ukrainian businesses. The service enables acceptance of cryptocurrency payments.

Large electronics store chains, TekhnoIzhak and Stylus, have already become Whitepay clients.

Customers can pay for their purchases using the acquiring form in online stores or at offline retail locations using dedicated POS terminals.

In this article, we will talk about Whitepay's innovations, as well as its collaboration with charitable foundations that help the Ukrainian Armed Forces.

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WhiteBIT Cryptocurrency Exchange

Whitepay is a Ukrainian cryptocurrency payment processing company.

It is part of the ecosystem of the centralized European cryptocurrency exchange WhiteBIT.

According to an independent audit by Hacken, WhiteBIT is one of the world's best exchanges in terms of security (it has an AAA rating).

The exchange's popularity confirms the interest in its tokens. On August 14, 2022, WhiteBIT launched a launchpad for its native WBT token.

The exchange offering caused a stir on the market: 1 million WBT tokens were sold out in just 15 minutes after trading began.

Whitepay

The Whitepay platform provides currency exchange and allows donations in cryptocurrency.

You can withdraw funds from Whitepay in a convenient way.

The platform supports Bitcoin, Tether, Litecoin, Bitcoin Cash, Ethereum, and five fiat currencies.

A one-time QR code is generated for each transaction. The platform uses a multi-layered security system to ensure the safety of customer data.

All transactions are supported in US dollars, rates are updated automatically.

Whitepay operates in Ukraine, Turkey, and the UAE. Cooperation with users in other countries is considered on a case-by-case basis.

For businesses, the service offers crypto acquiring, POS terminals, and the ability to generate invoices and receive receipts.

Whitepay Products

1. POS exchanger, allowing you to exchange cryptocurrency for national currency and vice versa.
2. POS terminalto pay for goods and services in cryptocurrency or national currency at the current exchange rate.
3. API for crypto-fiat acquiring:Customers will receive payments made in national currency converted into cryptocurrency.
4. Donations in crypto and national currencies.

Cooperation with the BF and assistance to the Armed Forces of Ukraine

As already mentioned, Whitepay is part of White BIT, and this company systematically supports the Ukrainian military.

In particular, the crystal microphone of the 2022 Eurovision winners, the Kalush Orchestra, was purchased at auction by White BIT, with a bid of $900,000 in Ethereum.

The proceeds were used to purchase drones for the Ukrainian Armed Forces.

Whitepay is developing its own platform for collecting cryptocurrency donations and also collaborates with volunteers and charities.

Charitable Foundation "Tabletochki"

Whitepay is a partner of the Ukrainian charity "Tabletochki." In 2020, this charity was one of the first in Ukraine to accept cryptocurrency donations.

The Whitepay platform not only handles payments, but also provides payment auditing and customer support.

Fundraising platform United24

In May 2022, Whitepay partnered with United24, a charitable donation campaign in support of Ukraine, initiated by President Volodymyr Zelenskyy.

The platform helps the fund process cryptocurrency donations.

As of August 19, 2022, the UNITED24 fund has raised $169,947,084, the current balance is $38,826,411.

UNITED24 and Spotify Collaboration

Incidentally, one of the world's most popular streaming services, Spotify, has now become a partner of Ukraine's largest fundraising platform.

Appeared on the platformofficial playlistMusic forUkraine, created for the Independence Day of Ukraine.

It currently contains 100 musical compositions, and the list will be updated weekly.

Registered users can not only listen to popular tracks by Ukrainian and international artists, but alsosend donations in support of Ukraine.

You can send a symbolic donation every monthamount $24(there is a link in the playlist description).

UNITED24 will direct the funds raised to the "Humanitarian and Medical Aid" program.

Whitepay's collaboration with NFT projects

NFT technologies are actively used in charity projects to prevent fraud and corruption.

Thanks to a smart contract and a special code, funds are distributed between the official accounts of charitable organizations.

Whitepay, for example, collaborates with the Goodness.Army project.

Its platform hosts over 10,000 unique digital images, which are sold with one goal in mind: to raise as much money as possible for Ukraine's reconstruction.

Users can pay for NFTs through Whitepay's cryptocurrency service.

Convenient modern payment method

As of mid-February 2022, the daily circulation of virtual assets in Ukraine amounted to approximately UAH 1 billion.

According to research, the number of active cryptocurrency users will increase to 350 million by the end of this year.

It's clear that cryptocurrency is not only a relevant tool for profitable investments. It's also a convenient, modern payment method.

Advantages of crypto payments:

• secure and transparent transactions;
• fast withdrawal of funds;
• the ability to track all transactions and deals;
• speed of payments;
• low fees;
• no chargebacks (a procedure for disputing a payment made using a bank card);
• entering new markets and international recognition.

How can crypto payment integration impact business revenue?

Given these benefits, you should consider implementing cryptocurrency payments into your business.

Experts believe that integrating cryptocurrency acquiring will help entrepreneurs attract a crypto-friendly audience—potential customers who can significantly increase your business's revenue.

It's important to understand that a product or service doesn't necessarily have to be cryptocurrency-related to attract this audience.

People interested in the product simply get an alternative, convenient way to pay for the service with crypto.

Advanced users will appreciate a fast and convenient payment method, increasing their motivation to purchase the necessary goods or services from you.

Cryptocurrency acquiring from Whitepay 

Since August 1, 2022, the Whitepay trading platform has offered a turnkey solution for entrepreneurs.

It offers businesses the ability to accept cryptocurrencies and fiat payments.

The company is implementing cryptocurrency acquiring with a user-friendly interface for easy integration of cryptocurrency payments for online or offline businesses:

• Buyers can make payments through the acquiring form in online stores;
• or at offline points of sale through special POS terminals – a product of the Whitepay company.

Whitepay's business clients can accept crypto payments on their website and issue crypto invoices using the API or CRM system.

Whitepay has created external, public API documentation detailing the process to help integrate cryptocurrency payments for business-focused websites.

Whitepay POS terminal

Whitepay POS doesn't require any setup—you can use it right away to receive payments.

According to the service provider, the terminal complies with the PCI DSS (Payment Card Industry Security Standard).

Whitepay offers secure transactions with KYC/AML (Know Your Customer) compliance (a bank's process for checking customers for suspicious financial transactions) specifications.

Whitepay ensures system development and customer support, and oversees payment security.

Conclusion

As we can see, entrepreneurs can set up payment for their services in crypto if they so desire: it's easy, modern, and profitable.

If you respond quickly to changes in your niche, the effectiveness and efficiency of your business project will only increase.

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